The Trump administration approved BP Plc’s plan to pump billions of dollars worth of crude from what will be the company’s first virgin field development in the Gulf of Mexico since the deadly 2010 Deepwater Horizon disaster that triggered the worst oil spill in US history.
BP’s deepwater Kaskida project is scheduled to start crude production in 2029. In its initial phase, the development is expected to produce the equivalent of about 275 million barrels from a section of the seafloor estimated to hold as much as 10 billion barrels.
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